§ 6550 Branch Office Approval

• •A branch office is like a second store for a business, not the main one, where they can do their work.
• •The business needs permission from the boss (board of directors) and the government (commissioner) to open a branch office.
• •A business can also work in other states, but they have to follow the rules of that state.

A bank wants to open a new office in another city.

The bank needs to ask their bosses and the government for permission to open the new office. If they want to open an office in another state, they have to follow that state's rules too.